BTCUSD: $20,904 to $21,261 Still in Play. However...

...We still have more POTENTIAL upward pressure remaining in the 10-Day and 12-Day time frames. Meaning, we may see my next Long Term 1.618 FIB Extension come into play. We are about to see a VERY VOLATILE WEEK this Weekly candle in my opinion. It's hard to say at this point in time exactly what we're going to do. I offered scenarios in the video of us running up to my Mid Term 1.618 FIB Extension ($20.9K and $21.26K) followed by a shakeout potentially to $16K then shoot right back up even higher. That is actually possible. it's also possible to remain sideways and continue up to Long Term 1.618 FIB at $30K -OR- not have a shakeout before continuing up. We need to see the next 10-Day and 12-Day candles before drawing that kind of conclusion. I do not want to make a call prematurely in that regard without seeing the next 10-Day and 12-Day candles.

I hope this was helpful...

Happy Trading and Stay Awesome!

David

Comment:

UPDATE:

I'm getting messages saying, "You're leaving it very open on this publication..."

Yes, I know... I "refuse" to say something as if it's a matter of fact or with 100 percent certainty when we are at a point in which the Energy in the Weekly is near level 50 and we still have yet to see what the Green Line and Energy are going to do in the 12h time frame. ALSO: When the 12 hour finally does exhaust, we honestly do NOT know if we will see a dump then or if we see just a small dip before continuing up.

Unfortunately, we are at a point in which we are FORCED to day trade to try to Sell at or near what COULD be the "top." Yet, we don't know for certain if this is the "top" or if we could see a simple shakeout before continuing higher.

You are seeing a PRIME example in which the Swing Trader is FORCED to become a DAY TRADER at some point near a POTENTIAL SWING.

Comment:

UPDATE

I'm leaning more towards a POTENTIAL "shakeout" at $20,900 to $21,260 back down to the Aqua UPPER or White UPPER B-Band in the Weekly. THEN turn back up to higher highs. However, I'm NOT willing to say that WILL occur... Mainly because of how close the White Energy in the Weekly is to level 50 and we have not seen what occurs with the exhaustion coming up in the 12 hour time frame.

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UPDATE:

Here's a look at BitFinex BTCUSD (top); BitFinex Margin Short Contracts (middle) and BitFinex Margin Long Contracts (bottom).

Comment:

UPDATE:

Those of you who have followed me a while know full well the Red RSI falling below level 56 to level 50 and lower increases the odds of the price action falling toward the Aqua/Orange LOWER B-Bands if the price action was already at the B-Band BASIS before falling.

See in the 3h:

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UPDATE:

CLARIFICATION: It does NOT mean we absolutely will fall to the Aqua/Orange LOWER B-Bands. I've simply found more often than not, this will occur. Meaning, you will be correction on where the price action will fall most of the time. The price action will almost definitely hit the White LOWER B-Band during this occurrence with the Red RSI falling below level 50.

Comment:

UPDATE:

Hi Everyone,

I got a decent amount of rest and relaxation. I'm waiting on the current 12 hour candle to "close" before providing updates on multiple pairs again; including BTCUSD. The next 12 hour candle will begin in approximately 4 hours.

See y'all soon...

David

12h TF is to the far right: